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    From Ros Altmann:economist and pensions,
    investment and retirement policy expert

    • pensionsandsavings.com

    pensionsandsavings.com

    Bank of England should put rate rises on hold and pause QT

    Bank of England should put rate rises on hold and pause QT

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    Bank of England must not raise rates again and should pause QT as tightening has gone too far and wider impacts need to be assessed.  Monetary policy operates with lags and there is clear risk of overkill as the massive rate rises in recent months will take time to feed through.  QE central bank bond-buying has undermined capital market risk models leaving pension funds and taxpayers exposed to large losses from QT.  Bank of England rate rises have gone too…

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    Stop treating pensioners as political footballs and let’s have a proper review of long-term pensioner spending

    Stop treating pensioners as political footballs and let’s have a proper review of long-term pensioner spending

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    Threatening to remove Winter Fuel Payments continues treating pensioners as political footballs and is no way to control public spending. Politicians should agree on a national cross-party review of future State Pensions and other support for older people.   Constant threats to cut parts of pensioner support and focus on more means-testing unsettles millions of pensioners with little or no income other than State Pension and benefits. Tinkering with parts of the system will not address cost control or inter-generational concerns.  …

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    Auto-enrolment Bill becomes law – better pensions for low earners and the young

    Auto-enrolment Bill becomes law – better pensions for low earners and the young

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    MORE PENSIONS FOR LOW EARNERS AND YOUNG WORKERS AS LORDS PASSES AUTO-ENROLMENT EXTENSION BILL INTO LAW.    Improves coverage and adequacy of workplace pensions as next step in success of auto-enrolment.    Consultation and regulations will follow to provide much larger pensions for lower earners and ensure workers under age 22 will be auto-enrolled.   The Extension of Auto-enrolment (No.2) Bill passed into Law in the House of Lords yesterday. It is an important next step in the success of workplace…

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    Tomorrow’s earnings data could mean State Pension rises by 8% next year – but that’s not the fault of the triple lock

    Tomorrow’s earnings data could mean State Pension rises by 8% next year – but that’s not the fault of the triple lock

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    Earnings inflation figures released tomorrow likely to indicate 8% rise in State Pension.    This will reflect the need to protect State Pensions, not the triple lock itself.    Chancellor is right to hint that it’s time to review state pension protection – just sticking with current triple lock does not give pensioners the reassurance they need.    Current ‘triple lock’ increases only two bits of State Pensions – but poorest pensioners are excluded and youngest get more protection. Earnings…

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    Regulators have driven pension funds away from UK investment trusts – FCA needs to act urgently to stop this damage

    Regulators have driven pension funds away from UK investment trusts – FCA needs to act urgently to stop this damage

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    UK economic growth under threat as investment trust crisis damages investments in UK infrastructure, renewable energy and real estate projects.    Chancellor’s Mansion House reforms want pension funds to invest more to boost key sectors, but new regulatory cost disclosure rules have driven investors out of UK investment companies. Since 2022, waves of selling have caused funding to dry up, as official guidance – derived from EU disclosure standards – which EU firms do not even use – has artificially…

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    It’s time to reform the triple lock – but glad Government will protect pensioners again next year as cost of living crisis continues

    It’s time to reform the triple lock – but glad Government will protect pensioners again next year as cost of living crisis continues

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    Glad to see the Government committing to protect the State Pension for next year as many pensioners continue to battle cost of living crisis. But the real decision is not about ‘triple lock’ as the 2.5% is irrelevant – it’s a double lock that’s important. It’s important for millions of pensioners especially women relying wholly on State Pensions, to have their meagre State Pension safeguarded. Government is right to commit to protecting pensioners again next year: In the middle of…

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    Cost-cutting can be achieved without State Pension cuts or raising State Pension Age

    Cost-cutting can be achieved without State Pension cuts or raising State Pension Age

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    Of course, with an aging population and high inflation, the costs of state pensions will rise, but that should not be a shock!  Of course Britain can afford to pay its State Pensions, this is a political choice of priorities. The UK has one of the lowest State Pensions in the OECD while most EU countries pay far more.  Cost-cutting need not mean attacking the core pension, raising State Pension Age or mass means-testing.  Increasing the number of years for…

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    Cold call ban for all financial products – a welcome next step, still plenty more to do to protect consumers from fraud

    Cold call ban for all financial products – a welcome next step, still plenty more to do to protect consumers from fraud

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    About time too – Government moves closer to banning cold-calling for financial products. Plenty more to do – such as publicity drive telling people to hang up on cold-callers and simplifying the baffling array of anti-fraud agencies – FCA, ICO, Ofgem, Action Fraud, City of London Police… Consultation won’t stop the fraudsters, but this is a step in the right direction to protect the public from scams. Older people are more at risk of attempted fraud calls and are often…

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    Chancellor should increase personal savings allowance to help mitigate inflation pressures and rebuild savings culture

    Chancellor should increase personal savings allowance to help mitigate inflation pressures and rebuild savings culture

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    Chancellor should urgently consider increasing personal savings allowance.  Although interest rates have increased, savers are still losing money in real terms and then lose even more in tax.  Penalising savers means higher spending and worse inflation, whereas encouraging more people to save can cool demand with less risk of ongoing rate rises causing sharp recession.  I believe the Chancellor should consider increasing the personal savings allowance to help improve the environment for savers. Increasing the allowance would enable savers to…

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    Extending pension auto-enrolment to more young people, women and low earners

    Extending pension auto-enrolment to more young people, women and low earners

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    More pensions for low earners and young workers as auto-enrolment extension bill goes through house of lords. The legislation will ensure Government moves auto-enrolment to next stage, improving coverage and adequacy of workplace pensions. This is designed to pave the way for all workers under age 22 to be auto-enrolled and provide much larger pensions for lower earners. On Friday, the Extension of Auto-enrolment (No.2) Bill received its Second Reading in the House of Lords and should become law in…

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